Financial insights for the sporting goods industry – Page 15
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News briefsMacron posts double-digit sales growth
Italian teamwear brand Macron has announced sales of €169.9 million for the year ended Dec. 31, 2022, representing a 36.5 percent increase on the previous year at the core business level (net of personal protective equipment project) and “a growth never achieved before,” the company said. Compared to pre-Covid levels ...
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News briefsDecathlon turnover rises 12%, beating IIC’s 2022 results
French sporting goods retailer and manufacturer Decathlon continued its global growth in 2022. Despite an “unstable global economic and geopolitical context,” according to CEO Barbara Martin Coppola, turnover rose by 12 percent compared to 2021 to €15.4 billion. Online sales now account for 17 percent of the total turnover (after ...
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News briefsTechnogym results driven by B2B, North America
Annual operating income increased by 4.9 percent to €82.8 million from €78.9 million for Technogym as the Italian company realized 14.9 percent constant-currency revenue growth to €721.5 million, driven by expansion in the business-to-business sector. Sales to consumers declined by 9.0 percent year-over-year to €165.4 million from €181.7 million but ...
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ArticleIntersport Austria continues to push the bike segment
Despite a moderate winter and partly mild temperatures, the winter business went well for Intersport Austria. In the first half of the fiscal year (Oct. 1, 2022 - March 31, 2023), the Austrian retail group reports sales of about €380 million, up 5 percent from the previous year. Among the ...
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ArticleLululemon exceeds $8bn in revenue, but impairment charge lowers FY profitability
Citing its balanced growth across channels, categories, and markets, Lululemon reported annual revenue growth of 30 percent in FY22 to $8.11 billion from $6.26 billion, with North American sales increasing 29 percent and jumping 35 percent everywhere else. But the group’s decision to take a $407.9 million impairment charge related ...
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News briefsPádel brands should expect a reckoning, says Head exec
Head Spain’s revenues rose by 46 percent last year to the record level of €27 million. Racquet sales accounted for some 70 percent of the total, and within that preponderance, pádel outsold tennis three to one. But this has not translated directly into retail sales. According to Head Spain’s business ...
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ArticleGerman e-tailer SportFits with record year
The southern German e-commerce company Tourispo has grown rapidly for the fifth consecutive year with its SportFits online shop, recording sales of €18.6 million in fiscal 2012. Despite the difficult overall economic environment, the e-tailer was thus able to achieve growth of 55 percent year-on-year and record an increase in ...
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ArticleXtep Intl. sees annual revenues surge to all-time high
The publicly traded Chinese company Xtep Intl., whose business models consists of its own label for the nation’s mass market and four western brands (K-Swiss and Palladium, globally, and joint ventures for Merrell and Saucony in Mainland China) targeting the premium market, generated a 29.1 percent increase in 2022 total ...
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ArticleFila’s FY22 profitability driven by Acushnet
Korea-based Fila Holdings, facing sales channel adjustments in its home market and a promotional U.S. business, generated 80 percent of its FY 22 operating profit from its stake in Acushnet Co. The group’s FY22 net profit rose 25 percent on a constant-currency basis to KRW 467,544 million (€327.3m), with Acushnet ...
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ArticleTecnica Group wraps up record financial year
According to its 2022 financial statements just published, Italy’s Tecnica Group looks back on the highest results in its history, with sales of €561 million, up 21 percent year-on-year. Adjusted Ebitda amounted to €94.5 million, up 14 percent compared to FY2021. In 2022, the company also posted a consolidated operating ...
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ArticleKMD Brands H1 sales grow as pandemic effects subside
KMD Brands, the down-under parent of Rip Curl, Kathmandu, and Oboz, reported Ebit of NZ$31.4 million (€18.6m) for H1 ended Jan. 31. Total revenues rose by 34.5 percent to NZ$547.9 million (€323.8m) as gross margin came in flat at 58.7 percent. Ebitda was NZ$90.8 million (€53.7m) versus NZ$45.3 million. The ...
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ArticleNike’s gross margin takes hit on further inventory liquidations
Nike senior executives, citing persistent efforts to reduce excess inventory and a prior decision to sharply reduce buys for the spring and summer 2023 seasons, insist the company is positioned to begin its next financial year on June 1 in a healthy merchandise position. “We’re increasingly confident that we’re going ...
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ArticleAnta’s FY profit is flat despite revenue expansion
Anta Sports Products, forced to cope with pandemic-related policies that negatively impacted store foot traffic and consumer sentiment across China for most of 2022, reported 8.8 percent growth last year to 53,651 million yuan renminbi (€7.58bn) on a flat net profit of RMB 8,245 million (€1.17bn) against RMB 8,219 million. ...
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ArticleOn Holding sees ongoing momentum in 2023, surpasses the CHF 1bn sales mark
13-year-old Swiss company On, which completed its first full year as a public company in 2022, is forecasting currency-neutral sales growth of 42 percent this financial year to 1.7 billion Swiss francs (€1.69bn), further gross margin expansion toward its mid-term target of 60 percent, and a 150-basis-point growth in adjusted ...
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ArticleLi Ning’s annual profit inches up on 14 percent revenue growth
Li Ning Company realized a 4.9 percent decline in annual operating profit to 4,887 million yuan renminbi (€690.5m) for the 12 months ended Dec. 31 as total revenues increased by 14.3 percent in local currency to RMB 25,803 million (€3.65bn). Retail sell-throughs, including online and offline, lifted higher by a ...
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ArticleFoot Locker Q4 net drops 82%, sets long-term targets and closes Hong Kong stores
Under its new president and CEO, Mary Dillon, Foot Locker outlined its financial objectives for FY24 to FY26 before investors in New York. Simultaneously, the group released Q4 and FY22 results and its outlook for the current fiscal year. Operating income declined by 51 percent to $59 million from $121 ...
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News briefsSSU eyes return to profitability in FY24
The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...
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News briefsBeachbody’s connected fitness sales tumble
U.S.-based subscription health and wellness company Beachbody’s connected fitness sales fell 87 percent in Q4 to just $4.75 million, down from $36.80 million a year ago. For the full year, revenue fell 11 percent from $42.74 million to $38.19 million. The cost of sales still far exceeds revenue, with $10.54 ...
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Article361 Degrees reports flat FY22 operating income
361 Degrees, which is continuing to upgrade its omnichannel retail experience in China, realized an 0.8 percent drop in FY22 operating income to 1,074 million yuan renminbi (€144.9m) against RMB 1,083 million for the 12 months ended Dec. 31. The operating profit margin fell to 15.4 percent from 18.3 percent. ...
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ArticleYue Yuen delivers solid FY results, but warns about gathering headwinds
Bolstered by its manufacturing segment, Yue Yuen reported a 158 percent increase in annual operating income to $416.8 million in FY22 on a 5 percent revenue expansion to $8.97 billion from $8.53 billion. Net income grew by 106 percent to $293.2 million as the annual gross margin dropped slightly to ...
